Amid Civil Unrest in China, Gold and Silver Prices Hold Steady – Equity, Crypto Markets Flounder – Market Updates Bitcoin News

Reports on Monday described zero-Covid political protests in China as dampening market sentiment as US stock markets showed the top four Wall Street indexes struggling. The global crypto market cap is down 3.5% and is getting very close to falling below $800 billion. Precious metal prices, on the other hand, such as gold and silver have remained stable, and since November 3, an ounce of gold has jumped 7.06% higher in value against the US dollar.

Gold and silver are holding steady amid a turbulent global economy, precious metals outperforming stocks and cryptoassets

Financial markets on Monday have been volatile in terms of stocks and cryptocurrencies. Precious metals like gold and silver, on the other hand, hold steady amid the madness of the world.

Some reports are citing Monday’s market jitters to civil unrest in China over the country’s zero-Covid policy. Indices such as the Dow Jones, Nasdaq, S&P 500 and NYSE have all opened the day in the red.

In addition, the crypto economy is close to falling below the $800 billion zone as bitcoin (BTC) has fallen over 2% in the last 24 hours. Ethereum (ETH) has lost 3.82% in the last day and the entire crypto economy has lost 3.5% against the dollar.

An ounce of gold is trading at $1,744 an ounce, which is up more than 7% against the US dollar since November 3. On that day, one troy ounce of fine gold changed hands for 1,629 nominal US dollars per unit.

Silver has also increased in USD value since the day when an ounce of fine silver was below $20 per unit on November 3rd. Today, silver changes hands for 20.99 nominal US dollars per unit.

Silver’s rise since that day outpaced gold’s jump in value as silver gained 7.91% over the past 25 days. As the world watches the events in China unravel, the US employment report is due on Friday.

In addition, US Federal Reserve Chairman Jerome Powell plans to discuss the US economy this Wednesday. Reports suggest some believe Powell will reveal plans to slow rate hikes.

With gold doing so well amid the macro-economic backdrop, some believe a “Santa meeting” could be on the cards. So far, in the last 25 days, both precious metals (Ag, Au) have outperformed stocks and crypto assets.

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Ag, AU, Bitcoin (BTC), China, China Protests, Civil Unrest, Crypto Economy, Crypto Markets, Employment Report, Stock Markets, Ethereum (ETH), Federal Reserve, Gold, Gold & Silver, Gold & Silver, Gold Surge, Jerome Powell, Jobs Report , market updates , markets , precious metals markets , precious metals , protests , protests in china , silver , silver and gold , silver rally , stocks

What do you think of the two precious metals’ market performance over the past month? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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